Sunita Tools Ltd enters into strategic MOU Middle East-Based Company for Facilitation of Upcoming Defence Order

Sunita Tools Limited ("the Company") is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with a (Friendly) Middle East-based company to support the execution of formalities and paperwork of an upcoming defence order for M107 from the Middle Eastern Company.

Under this MOU, the partner company will assist Sunita Tools Limited with government liaison, documentation, regulatory approvals, coordination with local authorities, Payment procedures and follow up and other execution-related formalities in the Middle East Country. In return, the partner company will receive a mutually agreed percentage-based commercial share from the finalized order.

This strategic cooperation is intended to ensure smooth execution, compliance with local laws and regulations, operational efficiency, and timely completion of the proposed order, while strengthening Sunita Tools Limited's footprint in the Middle east and North African markets.

Key Highlights of the MOU:

1. Facilitation of all local regulatory, administrative, and statutory formalities in the Middle East Country.

2. Coordination with Government authorities, customers, and stakeholders.

3. Support in execution, logistics, and on-ground operational requirements.

4. Commercial participation through a predefined percentage of the order value upon successful execution.

This collaboration aligns with Sunita Tools Limited's long-term strategy of expanding its international defence and aerospace business through trusted local partnerships and market-specific expertise.

Commenting on this development, Mr. Sanjay Pandey, Chairman & Whole Time Director of Sunita Tools Limited said: "We are pleased to announce this strategic MOU, which represents an important step forward for Sunita Tools Limited. This collaboration strengthens our presence in the global arena, enabling us to access international markets, local expertise, and potential technology collaborations. It will support the efficient execution of the proposed (Friendly) Middle East order and contribute meaningfully to the long-term growth of our defence business."

Shares of Sunita Tools Limited was last trading in BSE at Rs. 765.90 as compared to the previous close of Rs. 729.45. The total number of shares traded during the day was 5625 in over 41 trades.

The stock hit an intraday high of Rs. 765.90 and intraday low of 743.00. The net turnover during the day was Rs. 4250825.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts MOU MiddleEastCompany